Some folks think I don't make my charts and explanations simple enough to understand. So here's a plain one ;)
Looking to top out 15-16K, probably about the same time the next round of futures contracts close...
(check out my related charts below if you want to read more details, there really is more to the analysis than a wave count and falling wedge)
If this plays out, it's a 100% rise for those who bought at 8K ;) Tips appreciated, PM me for addresses
Looking to top out 15-16K, probably about the same time the next round of futures contracts close...
(check out my related charts below if you want to read more details, there really is more to the analysis than a wave count and falling wedge)
If this plays out, it's a 100% rise for those who bought at 8K ;) Tips appreciated, PM me for addresses
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(E) wave dug a little deeper to 6K. Doesn't change the bigger picture at all. Wedge gets a little wider at the bottom, and now we're looking (based on volume and RSI, not shown here) like we've got a solid local bottom in place. Targets still apply. Obviously we have to break out the wedge top first, you'd think I wouldn't have to explain that, but some folks here are really crabby about a lack of disclaimers on my scribbles ;)
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buckle up...
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bulls didn't take a single rest stop. no retraces, just straight shot for the 100MA and upper bear shoulder line. We could just keep cruising -- or we could finally get a small pullback before breaching
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pullback to the 0.382 (of the rise since the bottom) played out nicely, right down my arrow, and daily just turned again on the next arrow ;)
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yes, we went down for another leg, but it's still part of the new bull phase that we're in. We've hugged that downtrend line on the way to forming a bullish gartley, which will resolve any moment now and take us to the 15K target I've been aiming for finally.
